Coca-Cola India's Financial Shakeup: Profit Down, Revenue Up

Coca-Cola India reported a significant drop of 41.82% in its consolidated profit for FY24, despite a modest revenue increase of 4.24%. With augmented expenses in advertising and sales, the company's total expenses rose by 16.27%. It remains a significant player in India's beverage market.

Coca-Cola India faced a notable downturn in financial performance for the fiscal year 2024, with its consolidated profit plummeting 41.82% to Rs 420.29 crore, despite a revenue boost of 4.24% to Rs 4,713.38 crore. These figures were disclosed in a filing to the Registrar of Companies and accessed via business intelligence platform Tofler.

The total income of the beverages major expanded slightly by 4.19% to Rs 4,801.84 crore. In contrast, the prior year's figures showed a net profit of Rs 722.44 crore with revenue from operations standing at Rs 4,521.31 crore, reflecting a challenging financial performance this fiscal year.

Advertising and sales promotion expenses surged 35.47% to Rs 1,520.21 crore, indicating strategic investments in market presence. Meanwhile, royalties paid to the US-based parent company rose 4.68% to Rs 507.51 crore. Despite increased expenditures, total tax expenses decreased by 35.34% to Rs 171.42 crore.

(With inputs from agencies.)